Third Quarter Results Webcast

November 5, 2008

DELIVERINGDELIVERINGDELIVERINGDISCIPLINEDDELIVERINGDISCIPLINEDDISCIPLINEDGROWTHDISCIPLINEDGROWTHGROWTHGROWTH

1

Cautionary statementsCautionary statementsAll statements, other than statements of historical fact, contained or incorporated by reference in this presentation, including any information as to the future financial or operating performance of Kinross, constitute “forward-looking information” or “forward-looking statements” within the meaning of certain securities laws, including the provisions of the Securities Act (Ontario) and the provisions for “safe harbour” under the United States Private Securities Litigation Reform Act of 1995 and are based on the expectations, estimates and projections of management as of the date of this presentation unless otherwise stated. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Kinross as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Statements representing management’s financial outlook have been prepared solely for purposes of expressing their current views regarding the Company’s financial outlook and may not be appropriate for any other purpose.

The forward-looking information set forth in this presentation is subject to various risks and other factors which could cause actuallyThe forward-looking information set forth in this presentation is subject to various risks and other factors which could cause actually results to materially differ from those expressed or implied in the forward-looking information. The forward-looking information also reflects various estimates and assumptions of Kinross management. These risks, factors, estimates and assumptions are describedin more detail in Kinross’ most recently filed Annual Information Form in the section entitled “Risk Factors”, the “Risk Analysis” section of our most recently filed Management’s Discussion and Analysis , the “Risk Factors Related to the Offer” section of our offer and take-over bid circular filed in respect of Aurelian Resources Inc. (the “Aurelian Bid Circular”), and the “Cautionary Statement on Forward Looking Information” in our news release dated November 5 2008 to which readers are referred and which areForward-Looking Information in our news release dated November 5, 2008, to which readers are referred and which are incorporated by reference in this presentation. In addition, all forward-looking statements made in this presentation are qualified by the full “Cautionary Statement on Forward-Looking Information” in such news release. Kinross disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

Other information

Where we say “we”, “us”, “our”, the “Company”, or “Kinross” in this presentation, we mean Kinross Gold Corporation and/or one ormore or all of its subsidiaries, as may be applicable.

The technical information about the Company’s material mineral properties contained in this presentation has been prepared underthe supervision of Mr. Rob Henderson, an officer of the Company who is a “qualified person” within the meaning of National

2

the supervision of Mr. Rob Henderson, an officer of the Company who is a qualified person within the meaning of National Instrument 43-101.

SpeakersSpeakers

Tye W Burt Thomas M Boehlert Tim C BakerTye W. BurtPresident & Chief Executive Officer

Thomas M. BoehlertEVP & Chief Financial Officer

Tim C. BakerEVP & Chief Operating Officer

3

Third quarter 2008 highlights(1)Third quarter 2008 highlights(1)

Production increased to 551,510 Au eq. oz. (+36% from Q2’08)

(2) $Cost of sales(2) decreased to $406/oz. (-13% from Q2’08)

Margins increased to $451/oz. (+3% from Q2’08)

Production began at 3 development projects:

– First full quarter of production from Kupol

– Paracatu expansion poured first gold

– Kettle River – Buckhorn mine began production

Completed acquisition of Aurelian Resources

4(1) Refer to endnote #1.

Kinross is strongly positionedKinross is strongly positioned

Strong balance sheet: $720 mm of cash & short-term investmentsinvestments

No base metals credits in financial results

Majority of project capex spent

– Production from new mines has started

Focused strategy for creating shareholder value

Track record of delivering resultsTrack record of delivering results

5

Q3’08 Production & costsQ3’08 Production & costs

Cost of sales(2)

(US$/oz.)Gold equivalent production(ounces) ( )( )

+36% -13%

6(2) Refer to endnote #2.

Quarterly production & costsQuarterly production & costs

7

Kinross margins expandingKinross margins expandingWhile average realized gold price is up 190%, Kinross’ cost of sales margin(2) has increased 326% $447

Up326%

les

Mar

gin

$279

$329

Cos

t of S

a

$161 $170C

$105$135

$161

FY'02 FY'03 FY'04 FY'05 FY'06 FY'07 YTD'08

8Source: Company reports(2) Refer to endnote #2.

Q3’08 Financial resultsQ3’08 Financial results

Reported net earnings $64.7 mm ($0.10/sh)

Adjusting for non-operating items:Gains on asset salesForeign exchange gainsNon hedge derivative gains

- $18.4 mm- $30.6 mm

$11 6 mmNon-hedge derivative gainsProvision for litigation Equity impairment charge

- $11.6 mm+ $19.1 mm+ $60.2 mm

E i l di it b $83 4 ($0 13/ h)Earnings excluding items above $83.4 mm ($0.13/sh)

Cash flow from operating activities (before changes in working capital)(3)

$183.2 mm ($0.29/sh)

Capital expenditures $194.1 mm

9(3) Refer to endnote #3.

Kupol(4)Kupol(4)

Operations began June 1, 2008

Mill throughput is currently at over 95% of 3,000 tpd capacity

Q3 production: 206,495 oz. Au. eq

Q3 cost of sales: $231/oz. Au. eq.

10(4) Refer to endnote #4.

Paracatu expansion project(5)Paracatu expansion project(5)

First gold poured in October

Commissioning of SAG mill, first ball mill, crushing and floatation circuits is complete

Expect to be producing at 60% capacity by year-end; full capacity within Q1’09

With th i P t i t d tWith the expansion, Paracatu is expected to produce ~200k oz. at ~$465-485 per oz

Costs will decline as it reaches full productionCosts will decline as it reaches full production

11(5) Refer to endnote #5.

Kettle River – Buckhorn(6)Kettle River – Buckhorn(6)

Construction complete and mine is now fully operationalfully operational

Poured first gold oz. in October

Kettle River mill currently processing oreKettle River mill currently processing ore stockpiles from former K2 mine through November

‘08e production: 20k – 30 k oz.

‘08e cost of sales: $365 - $385/oz

12(6) Refer to endnote #6.

Fort Knox expansion(7)Fort Knox expansion(7)

Approximately 78% complete

Construction of heap leach pad concluded for the season; scheduled to restart in the spring.

Construction on the carbon-in-column plantConstruction on the carbon in column plant continuing; expected to be completed by Q1’09

Start-up of leaching operations scheduled for Q3’09

13(7) Refer to endnote #7.

Q3’08 Operating resultsQ3’08 Operating resultsMine Ounces Produced Ounces Sold Cost of Sales Cost of Sales

(Au eq) (Au eq) (US$ mm) (US$/oz)

$ $Fort Knox 100,969 101,729 $45.1 $443

Round Mountain 63,283 64,259 $28.6 $445

Paracatu 47 641 47 500 $19 8 $417Paracatu 47,641 47,500 $19.8 $417

La Coipa 48,879 56,877 $33.0 $580

Maricunga 53,313 60,798 $34.8 $572

Crixas 22,566 23,363 $7.8 $334

Julietta 8,364 8,364 $7.9 $945

Kupol 206,495 170,724 $39.4 $231

Total: 551,510 533,614 $216.4 $406

14

Kinross key objectives for 2008Kinross key objectives for 2008

Increased reserves organically

Strengthened balance sheet with convertible financingStrengthened balance sheet with convertible financing

Fort Knox optimization approved

Dividend declared

Produced first company-wide Corporate Responsibility Report

Enhanced exploration pipeline

Kupol start-up

Close & integrate combination with Aurelian

Paracatu expansion start-up

Buckhorn start-up

15

EndnotesEndnotes

(1) Unless otherwise state, gold equivalent production, gold equivalent sales and cost of sales figures in this presentation are based on Kinross’ share of Kupol production (75%)

(2) Cost of sales is defined as cost of sales as per the financial statements di ided b the n mber of gold eq i alent(2) Cost of sales is defined as cost of sales as per the financial statements divided by the number of gold equivalent ounces sold, both reduced for Kupol sales attributable to a third-party 25% shareholder.

(3) Cash flow before changes in working capital is a non-GAAP measure and is defined as cash flow provided from operating activities before changes in operating assets and liabilities.

(4) For more information relating to the status and outlook for the Kupol mine, please refer to the press release dated November 5, 2008, which is available on our website at www.kinross.com.

(5) For more information relating to the status and outlook for the Paracatu Expansion Project, please refer to the press release dated November 5, 2008, which is available on our website at www.kinross.com.

(6) For more information relating to the status of the Kettle River – Buckhorn project, please refer to the press release dated November 5, 2008, which is available on our website at www.kinross.com.

(7) For more information relating to the status of the Fort Knox heap leach project, please refer to the press release dated November 5, 2008, which is available on our website at www.kinross.com.

16

17